Columbia Asset Management Sells 970 Shares of Caterpillar Inc. (NYSE:CAT)

Columbia Asset Management decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 5.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,976 shares of the industrial products company's stock after selling 970 shares during the quarter. Columbia Asset Management's holdings in Caterpillar were worth $5,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Flagship Wealth Advisors LLC purchased a new stake in shares of Caterpillar in the fourth quarter worth about $26,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Caterpillar in the 4th quarter worth approximately $27,000. Cyrus J. Lawrence LLC bought a new position in Caterpillar in the 4th quarter valued at $27,000. Noble Wealth Management PBC purchased a new position in shares of Caterpillar during the 4th quarter valued at $31,000. Finally, Investment Management Corp VA ADV bought a new position in shares of Caterpillar in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Trading Up 1.3%

NYSE CAT traded up $4.53 during trading on Friday, hitting $353.49. 1,605,025 shares of the company's stock traded hands, compared to its average volume of 2,596,746. The firm has a market cap of $166.51 billion, a P/E ratio of 16.02, a PEG ratio of 1.87 and a beta of 1.37. The stock has a fifty day moving average of $320.27 and a two-hundred day moving average of $350.10. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The company had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter in the previous year, the firm posted $5.60 EPS. The business's revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st were issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Monday, April 21st. Caterpillar's dividend payout ratio (DPR) is presently 27.49%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director David Maclennan bought 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the purchase, the director now owns 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

CAT has been the subject of several recent analyst reports. Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Bank of America boosted their price objective on Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, May 30th. UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and raised their target price for the company from $272.00 to $357.00 in a research note on Friday, May 16th. Robert W. Baird raised shares of Caterpillar from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $309.00 to $395.00 in a research note on Tuesday, May 13th. Finally, Evercore ISI lowered their price objective on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research report on Monday, May 19th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $372.92.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.